Is Co-Diagnostics outlook positive for April 2022?

CODX
 Stock
  

USD 3.34  0.07  2.05%   

As many millenniums are trying to avoid healthcare space, it makes sense to break down Co-Diagnostics a little further and try to understand its current market patterns. We will analyze why Co Diagnostics investors may still consider a stake in the business. What is Co Diagnostics valuation so far in 2022? We are going to cover the firm perspective on valuation to give investors a better transparency on taking a position in it.
Published over six months ago
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Debt to Equity Ratio is likely to rise to 0.08 in 2022. Average Equity is likely to rise to about 54.1 M in 2022
The firm owns a Beta (Systematic Risk) of 2.3766, which signifies a somewhat significant risk relative to the market. Let's try to break down what Co Diagnostics's beta means in this case. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Co Diagnostics will likely underperform. Even though it is essential to pay attention to Co-Diagnostics existing price patterns, it is always good to be careful when utilizing equity price patterns. Our approach into foreseeing any stock's future performance is to check both, its past performance charts as well as the business as a whole, including all available technical indicators. Co Diagnostics exposes twenty-eight different technical indicators, which can help you to evaluate its performance. Co-Diagnostics has an expected return of -0.67%. Please be advised to confirm Co-Diagnostics maximum drawdown, and the relationship between the information ratio and expected short fall to decide if Co-Diagnostics performance from the past will be repeated in the future.
We determine the current worth of Co-Diagnostics using both absolute as well as relative valuation methodologies to arrive at its intrinsic value. In general, an absolute valuation paradigm, as applied to this company, attempts to find the value of Co-Diagnostics based exclusively on its fundamental and basic technical indicators. By analyzing Co Diagnostics's financials, quarterly and monthly indicators, and related drivers such as dividends, operating cash flow, and various types of growth rates, we attempt to find the most accurate representation of Co Diagnostics's intrinsic value. In some cases, mostly for established, large-cap companies, we also incorporate more traditional valuation methods such as dividend discount, discounted cash flow, or asset-based models. As compared to an absolute model, our relative valuation model uses a comparative analysis of Co Diagnostics. We calculate exposure to Co Diagnostics's market risk, different technical and fundamental indicators, relevant financial multiples and ratios, and then comparing them to Co Diagnostics's related companies.

Co-Diagnostics Investment Alerts

Co Diagnostics investment alerts and warnings help investors to get more proficient at understanding not only critical technical and fundamental signals but also the significant portfolio-centered indicators. These indicators include beta, alpha, and other risk-related measures that will help you in monitoring Co-Diagnostics performance across your portfolios.Please check all investment alerts for Co Diagnostics

Co Diagnostics Valuation Ratios as Compared to Competition

Our valuation model uses many indicators to compare Co Diagnostics value to that of its competitors to determine the firm's financial worth. You can analyze the relationship between different fundamental ratios across Co Diagnostics competition to find correlations between indicators driving the intrinsic value of Co Diagnostics.

How does Co Diagnostics utilize its cash?

To perform a cash flow analysis of Co Diagnostics, investors first need to understand how to read the cash flow statement. A cash flow statement shows the amount of cash Co Diagnostics is receiving and how much cash it distributes out in a given period. The Co Diagnostics cash flow statement breaks down these inflows and outflows into different buckets, including operating activities, investing activities, and financing activities.

Payment of 1414 shares by Reed Benson of Co Diagnostics subject to Rule 16b-3

Legal trades by Co Diagnostics insiders are very common, as founders, directors, or employees of any publicly traded firm often have stock or stock options. These trades are made public in the United States through the filing of Form 4 of the Securities and Exchange Commission. Below entry was recorded recently and is publicly available as an insider trade:
Co Diagnostics insider trading alert for payment of common stock by Reed Benson, General Counsel, on 29th of September 2022. This event was filed by Codiagnostics Inc with SEC on 2021-05-26. Statement of changes in beneficial ownership - SEC Form 4 [view details]   
Note, although insider trading is legal, in the United States, Canada, Australia, and Germany, for mandatory reporting purposes, corporate insiders are defined as a company's officers, directors, and any beneficial owners of more than 10% of a class of the company's equity securities.

Is Co Diagnostics valued reasonably by the market?

The big decline in price over the last few months for Co-Diagnostics could raise concerns from investors as the firm is trading at a share price of 6.51 on 476,409 in volume. The company directors and management failed to add value to investors and position the firm supply of money to exploit market volatility in February. However, diversifying your holdings with Co Diagnostics or similar stocks can still protect your portfolios during high-volatility market scenarios. The stock standard deviation of daily returns for 90 days investing horizon is currently 3.96. The above-average risk is mostly attributed to market volatility and speculations regarding some of the upcoming earning calls from Co-Diagnostics partners.

Margins Breakdown

Co Diagnostics profit margins show the degree to which it makes money. Margin indicators are used not only by investors but also by creditors or Co Diagnostics itself as indicators of financial health and management effectiveness. Please look more closely at the different varieties of Co Diagnostics profit margins.
EBITDA Margin0.71
Gross Margin0.71
Profit Margin0.71


Co Diagnostics Earnings Before Interest Taxes and Depreciation Amortization USD is fairly stable at the moment. Further, Co Diagnostics Earnings before Tax is fairly stable at the moment. Co Diagnostics Earnings Before Interest Taxes and Depreciation Amortization USD is fairly stable at the moment. Further, Co Diagnostics Earnings before Tax is fairly stable at the moment.

Can Co Diagnostics build up on the current rise?

Kurtosis is down to 1.38. It may suggest a possible volatility slide. Co-Diagnostics exhibits very low volatility with skewness of 0.63 and kurtosis of 1.38. However, we advise investors to further study Co-Diagnostics technical indicators to make sure all market info is available and is reliable. Understanding different market volatility trends often help investors to time the market. Properly using volatility indicators enable traders to measure Co Diagnostics' stock risk against market volatility during both bullying and bearish trends. The higher level of volatility that comes with bear markets can directly impact Co Diagnostics' stock price while adding stress to investors as they watch their shares' value plummet. This usually forces investors to rebalance their portfolios by buying different stocks as prices fall.

Co Diagnostics Implied Volatility

Co Diagnostics' implied volatility exposes the market's sentiment of Co-Diagnostics stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Co Diagnostics' implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Co Diagnostics stock will not fluctuate a lot when Co Diagnostics' options are near their expiration.

The Bottom Line

While other entities in the diagnostics & research industry are either recovering or due for a correction, Co Diagnostics may not be as strong as the others in terms of longer-term growth potentials. With an impartial outlook on the current market volatility, it may be better to hold off any inventment activity and neither purchase nor trade any shares of Co Diagnostics at this time. The Co-Diagnostics risk-reward trade off is not appealing enough to do any trading. Please use our equity advice module to run different scenarios to ensure your current risk level and investment horizon are fully reflective of your current investing preferences in regards to Co Diagnostics.

Editorial Staff

This story should be regarded as informational only and should not be considered a solicitation to sell or buy any financial products. Macroaxis does not express any opinion as to the present or future value of any investments referred to in this post. This post may not be reproduced without the consent of Macroaxis LLC. Macroaxis LLC and Vlad Skutelnik do not own shares of Co-Diagnostics. Please refer to our Terms of Use for any information regarding our disclosure principles.

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